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20121123
20121123
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Search Results 0 to 18 of about 19 (some duplicates have been removed)
investors are trying to hang onto when there's not much to look at. cheryl: we have more fiscal cliff discussions picking the next week. we really have not a lot of days to get that fiscal cliff situation figured out. how nervous are you? taking it to the final trading day of the year which is entirely possible? we are talking about washington. >> i don't think anybody will blink yet in washington. another month left will stretch us out as long as possible. when we come here is a day-by-day market. one day everyone is buying into amanda knox data could be a headline out of washington where everyone is trying to get out real quick. too many uncertainties heading into the year or the first quarter next year so investors will look at this as a day-by-day trade but we can't forget the other factors out there. the fiscal cliff, we will get our normal calendar of economic data and still get headlines out of europe. still lot of things will move the market. i traditionally think we see a run up toward the end of the year. cheryl: a lot of traders bring their families on the floor of the stoc
for thanksgiving, so tonight we take a special look at an important issue for all americans: the fiscal cliff. >> tom: i'm tom hudson. massive spending cuts and tax hikes are set to hit the u.s. economy on january first. by most estimates if we go over the cliff, the u.s. onomy will plunge into recession. >> susie: we look at the impact of the coming cliff and whether congress and the white house can strike a deal. >> tom: that and more tonight on n.b.r.! it was the chairman of the federal reserve ben bernanke who first called it a fiscal cliff. he described the coming automatic cuts in government spending and increases in taxes as, quote, "a massive fiscal cliff," end quote. here's what he was describing: on january 1, 2013, tax breaks worth $416 billion will expire. spending on things like defense, medicare payments to doctors will be slashed by $65 billion. add it all up and you are talking about cutting roughly half a trillion dollars from the federal budget. the congressional budget office and others warn going over the cliff will send the economy into a recession in the first half of ne
, the fiscal cliff is going to be something that implies a little bit of slowing or austerity. markets do not want to see austerity. voters don't want to see austerity although it's the right thing to do in the wrong term. recognize this is the environment where -- >> all right, ron, based on the fact that the the fed's printing and you think the emerging markets are the way to go, talk about your picks. you like three sectors. technology, oil and gas, and, of course, food. the world will eat and eat better. what stocks do you like? >> well, let's see, oil and gas, exploration and transportation in the united states particularly is what we like. mlps are a place where we have a 9% allocation. a couple reasons, one, someone's got to transport all this oil from north dakota to the plants. that's growing at an incredible pace, high dividend payers, tax advantage dividend payers, going to be an incredibly important aspect for investors next year, and the world and the united states wants to be energy independent. the oil and gas, mlps, more of a commodities play. it's a good -- it's a good so
of this fiscal cliff that if my opinion, at least, is starting to hurt spending. >> it is hard to believe because why like toship but a lot of people go because it is a celebration thing, a lot of them are tag about it is like a party like lining up to see the ball drop on new year's so it is not just deal seeking. >>guest: it is becoming a huge event. you have to credit the retailers and the media for building it up because it is a big part of our economy and a quarter of the sales will be taking place here for the year take place in the next couple of weeks, but the fiscal cliff is out there. the fiscal cliff for the consumer is the worst thing that has happened since paris hilton released her debut music album, and there is not a lot of hope for congress to resolve anything. >> but consumer confidence is at a file year high so it must translate into opening of the wallets? >>guest: that is a fair point but if you look at the most recent consumer sentiment survey, you talk about future expectations, they are lower when than the last few months, and the lower expectations are because of the fisc
the fiscal cliff is or what it means for their paycheck. >> they aren't worried. we'll see how numbers pan out. should be a big shopping weekend for the retailers. cyber-monday is around the corner. this is a big three days. it's funny. cyber-monday first came about when people didn't have high-speed internet. they would have to go to work and shop because it wasn't common. now it's common to have high-speed internet access at home and still you have cyber-monday. >> just as a point of note here, street signs are not allowed to say cyber-monday. i don't believe it. it's five bucks in the beer jar. you already owe 15 bucks. >> it's not "street signs." >> we play by a different set of rules here at post 9. >> we play by melissa's rules here at post 9. >> yours too, david. >> mine too. absolutely. we will be watching any number of retailers in terms of stocks. we'll see how some of the laggers do today. jcpenney. we'll be talking to the chief merchandise officer at sears later in the program. interesting to see given how poor the report was there. >> don't we have the former ceo of jcpenney o
they are republicans. then theyou have republicans. i don't see how we can survive this fiscal cliff if john boehner does not follow the lead of the president. he said a couple days ago we have to put obamacare in a position to and take some cuts from it. that's crazy. john boehner and mitch mcconnell and all of them have given the president a hard time. that's why we voted for these people and they are supposed to do our bidding, because people are hurting. host: let's take it to the state level in a carolina, state legislature, republican governor, republican. what are the big ticket items they will start working on? caller: i don't think the governor knows himself. he claimed that he will bring relief to the state. i don't see how he's going to do it. they are going to cut a lot of social programs that they call wasteful spending. people are going to really see what he's made of. what is your name again? host: what is that? caller: pope was the one along with the koch brothers that got it mccory into office. they are bought and paid for. they don't do the people -- everybody needs to be represent
fund people and it's horrible. >> and on your list of things not to bring up, fiscal cliff? >> it was? on the woman's day list. >> and a cool guy. >> fiscal cliff, is going to be-- >> and greg, you want to get out of here. >> i do want to get out of here. what year was the first thanksgiving celebration. 1953? i know you thought it was earlier. bob gives us all a history lesson next. ♪ homeward bound ♪ home, where my thoughts escaping, home where my music is playing ♪ ♪ where my love lies waiting silently for me ♪ ♪ starts at 6 eastern. for now we'll take you back to "the five." ♪ ♪ don't know much about history ♪ ♪ don't know much biology >> are you ready? >> oh, anyway, don't know much about history? apparently not. you're not alone. dave mccollough, one of the greatest historians thinks we're on the path to illiteracy. >> we're raising children that are by and large historically illiterate. a young woman came up to me and said that until she'd heard me speak she never understood that the original 13 colonies were on the east coast and i thought, what are we doi
on unions trying to block spending cuts and the fiscal cliff deal while making sure the rich pay more. jeff flock with union back protests at wal-mart stores and diana on the dirty little secret those unions are not changing wal-mart workers. first to rich and some in washington, d.c.. how unions trying to persuade democrats to avoid spending cuts? >> with a significant lobbying effo on capitol hill and a new advertising campaign targeted at democratic and republican lawmakers in pennsylvania, virginia and missouri. the basic message is don't touch entitlements in the fiscal cliff tops we're having on capitol hill. honesty and one of the union says elected officials from both parties need to listen to the will of the voters and focus on rebuilding the middle class and strengthening our economy by investing in jobs, not cuts. as for the effectiveness of this caaign one conservative says this type of pressure from unions is nothing new. >> the fact that they are publicly saying what they have been privately saying helps the american people understand where obama's in trend and comes from but
the election about the fiscal cliff. what is at stake here for both sides? what happens if they don't get a deal? >> well, look. i think what happens to both sides, it's not even what happens to both sides, what happens to us which is the collective, right? it's what happens to the country which is 4% of gdp disappears overnight. and that's what this is all about. by the way, it's not just about what happens january 1st or 11:59 the day before january 1st. it's already starting to impact the economy. whether it impacts consumers -- and we'll find out today, by the way, in terms of thanksgiving and what's that meant, whether consumers are coming out or not -- but thoorz the bigger issue that manufacturing has already started to slow down. people are starting to worry. it may end up in the economic numbers already, just the fact that we're having this debate. and then come january 1st, do we go over? what does that mean? is it the fiscal cliff? or does it look like the fiscal bungee cord? that's what some people are calling it. we go over for two weeks and then we snap back and get a deal a
, the fiscal cliff negotiations will heat up. now the speaker of the house has thrown a new problem into the talks, can a deal actually be reached? >>> shoppers looking for their own kind of grand bargain today. we're going to look at the black friday crush at shopping malls and super stores all over this country. but we start this hour with breaking news in egypt. you're looking at live pictures of tahrir square in cairo after the new egyptian president morsi gave himself sweeping new powers today. tahrir square also the heart of last year's uprising. demonstrators filled the streets of alexandria later today. morsi's new powers put his own decisions above all legal challenges until a new egyptian parliament is elected. despite the protests, morsi moving ahead with his plans at the same time insisting that his new powers are for the good ofu issued a statement moments ago saying in part, quote, we call for calm and encourage all parties to work together and call for all egyptians to resolve their differences over these important issues peacefully and through democratic dialogue. ji
on the fiscal cliff next year and i see the housing market getting better around better and i think that's a positive. >> rick santelli, it wasn't just stocks rallying today. here in the u.s., europe had its best week of the year this week. the euro is at a three-week high. gold was very strong today. what's the market telling us right now? >> i think the market's telling us that there's a lot of bargain hunting and a lot of optimism towards europe. that made sense. i think that the issues of europe are far from cured. i don't think they can be cured. but i do think there's going to be large time gaps where investors hit the gas because the bureaucrats aren't necessarily hitting the brake. whether it's cyprus seems to be an issue. but it's strong. greece really isn't a huge issue but it really does represent kind of how the thinking goes for larger issues that europe has defaced. i found it fascinating, the dollar index closed down over a penny, even though had a strong gain on the week on the yen. it just goes to show you how that euro is so powerful this week and how in the last couple
-called fiscal cliff, and they're not holding back. elizabeth macdonald is with the fox business network. okay, liz, so who are these corporations, and what exactly are they saying? >> good to be with you, arthel. it's walmart, cvs and wall greens. walmart or is basically saying, look, customers don't need the uncertainty over tax increases, and let's get to cvs caremark because these two drug store chains are basically making rare public policy statements that we've never seen before from these companies. they're urging washington to avoid the fiscal cliff. cvs caremark is essentially saying, look, our customers are hard working american families, they make decisions on the budget. they've been faced with, basically, persistent high unemployment, fragile economic growth, and they want to know that d.c. is working on their behalf. so and that was also the same sentiment that you heard out of walgreens. walgreens also saying, basically, the health of the u.s. economy, the recovery and american families depends on a consensus agreement in washington, d.c. to avoid the fiscal cliff, and walgreens
. with the fiscal cliff, do you think there's a way to reach an agreement on the fiscal cliff? are you willing to do comprehensive entitlement reforms in exchange for an increase tax rate? >> i think that's an excellent question. let's make one thing clear. the entitlements have little to do with the day-to-day operation of the budget. they have their own separate budgets. they're paid for in a separate manner, through payroll taxes. so anybody that wants to do that is really holding the issue hostage. the other side is good at doing that. republicans have been very good at holding us hostage. we said to them at least pass the middle chas tax cuts and let's continue those and then we'll debate the other stuff. there is no compromising these ideologues. i want compromise. people want them to come together. if you hold the other issue or the other side hostage, it's not going to get done. i'm a little less optimistic than i was last week when i hear from staff and the discussions that are going on behind the scenes. i'm less optimistic about it. but i'm in there fighting for resolution. if we kick the
about whether the consumer has any of the same concerns about the fiscal cliff or anything else. >> it was a tick up that was going upward. and it came off a little bit the initial readings. so maybe a little bit of cliff is sinking into the consumer. but when we checked on on four key metrics, wages, unemployment, housing and what was the fourth one, debt levels, consumer is in better shape this year than last year. >> what is the chance that right now we haven't lost confidence among consumers and so people are out there this thanksgiving weekend buying, maybe next weekend they're buying, but as the fiscal cliff conversation really hits a ahead in mid-december, that somehow confidence starts to drift. >> seems like an upper income kind of concern given the volatility of the stock market. mass market, as long as they're living pay dlek to paycheck, they're buying for their kids. christmas doesn't stop because of what's happening in washington. >> i think consumer sentiment can be fragile. it's curious that it hasn't sunk in more now and maybe that's because it has not been a na
. dog dog fiscal cliff negotiations got more complicated. president obama's union supporters are stepping in. our very own rich edson joining us live from washington, d.c.. rich, what do you know? >> well, good morning. the key to the fiscal cliff negotiations, republicans say will talk increased tax revenue if democrats put entitlement reform on the table. medicare, medicaid, social security. there's a major effort by labor unions opposing that effort taking out advertising in states in missouri, pennsylvania, virginia, and elsewhere targeting members of congress to oppose any type of entitlement reform or changes. the group, in a statement says, elected officials from both parties need to listen to the will of the voters and focus on rebuilding the middle class and strengthening our economy by investing in jobs, not cuts. on the other side, conservatives say it's not a game changer because from unions, this is really nothing new. >> the fact they are publicly saying what they have been privately saying is helpful the american people understand where obama's intransigence co
are worried they might need their own lifeline with the country on the brink of a fiscal cliff. that's next. and actually share . ♪ the lexus december to remember sales event is on. this is the pursuit of perfection. yeah we both relieve coughs, sneezing, aches, fevers. and i relieve nasal congestion. overachiever. [ female announcer ] tylenol® cold multi-symptom nighttime relieves nasal congestion. nyquil® cold and flu doesn't. cool. you found it. wow. nice place. yeah. [ chuckles ] the family thinks i'm out shipping these. smooth move. you used priority mail flat rate boxes. if it fits, it ships for a low, flat rate. paid for postage online and arranged a free pickup. and i'm gonna track them online, too. nice. between those boxes and this place, i'm totally staying sane this year. do i smell snickerdoodles? maybe. [ timer dings ] got to go. priority mail flat rate boxes. online pricing starts at $5.15. only from the postal service. [ male announcer ] this holiday, give your family the greatest gift of all -- peace of mind. with the adt after thanksgiving sale. get adt home security a
. >> he's a great cook. >> so we're heading towards this fiscal cliff. we keep on hearing about it. there are three scenarios that you're concerned about. >> right. we should point out. automatic tax increases, massive budget cuts. but they don't reach a budget. >> you have three different scaries where if they come to an agreement, we could still come to the cliff. number one, a republican surrender of the bush tax cuts. >> i think that's probably what's going to happen to create a deal. everything i hear coming out of there is that they're willing to give on revenues. you look at polls and a lot of this political. economically, they shouldn't do anything. they should not raise that upper number. why? because it hits small businesses. but the president and democrats are good at demagoguing this. polls say 97% of small businesses aren't affected. that's bologna. if you take in consultants, individuals who consider themselves filers of small business. if you look at small businesses that create jobs, these tax increases hit them dramatically. but the polls are against them. i think
Search Results 0 to 18 of about 19 (some duplicates have been removed)